Pay for Performance

Paying for performance is quite in vogue now. Many Entrepreneurs are embracing this compensation philosophy. Have you done so?

The traditional mode of initially compensating people based on their skill level, experience and knowledge and then merit adjustments based on annual performance evaluation is becoming obsolete.

Instead, the enlightened approach is to establish appropriate metrics and then compensating employees based on performance. There are various combinations to create an appropriate program for your company and method of operations. The benefit of a Pay for Performance philosophy is that it holds employees accountable for performance and rewards superior achievement.

If you have not explored this approach, you might want to do so.

Please contact Patel CFO Services (www.patelCFOservices.com)  for more information.

Ravi Patel

www.patelCFOservices.com

Advertisements

The URI to TrackBack this entry is: https://bloggerravi.wordpress.com/2009/04/02/pay-for-performance/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: